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# Japanese agency R&I lifts Viet Nam’s foreign-currency rating to investment grade
- URL: https://www.southeastasiaconnect.com/vietnam-ri-investment-grade/
- Published: 2026-10-09T12:19:09.000Z
- Updated: 2026-10-09T13:51:23.000Z
- Description: R&I’s move from BB+ to BBB- gives debt investors an investment-grade assessment of Viet Nam’s foreign-currency borrowing risk.
- Author: Southeast Asia Editorial Team
- Tags: News, #google-news, Vietnam, Financial Services

Japanese credit-rating agency [Rating and Investment Information (R&I)](https://www.r-i.co.jp/eng/?ref=southeastasiaconnect.com) raised Viet Nam’s foreign-currency issuer rating from BB+ to BBB- on 8 October. That crosses the investment-grade threshold on R&I’s scale. [Viet Nam Government News](https://en.baochinhphu.vn/ri-upgrades-viet-nams-foreign-currency-issuer-rating-to-bbb-111261009104728444.htm?ref=southeastasiaconnect.com) reported the action on 9 October, citing the Ministry of Finance, and said R&I was the first agency to give the country an investment-grade rating. The new outlook is stable.

An issuer rating is an agency’s assessment of a borrower’s ability to meet its obligations; this one concerns foreign-currency debt. The higher grade gives investors who follow R&I a more favourable assessment of Viet Nam’s sovereign risk. It can change how the country appears in their debt screening, although a decision to buy a particular bond still depends on the bond and each investor’s rules.

## Growth and external finances shaped the decision

The government account says R&I expects growth to remain strong after an expansion of roughly 9% in the first nine months of 2026\. It also cites the country’s reform programme and public investment. R&I viewed the relatively low public-debt ratio as leaving room for development spending.

On external finances, the report says the agency noted Viet Nam’s current-account surplus, continued foreign investment inflows and relatively low external debt. R&I saw those factors as support against shocks from abroad. Together, the growth, fiscal and external positions explain why the agency raised its assessment.

## What investors can do with the new grade

The Ministry of Finance said the upgrade could strengthen investor confidence and support access to long-term funding. A higher rating can make the country more attractive to investors whose policies take R&I’s assessment into account. It does not automatically change the rating of a specific bond or establish that Viet Nam is already borrowing more cheaply.

For institutions assessing Viet Nam debt, the immediate step is to use R&I’s new sovereign grade alongside the ratings of the securities they are considering and the rules governing their portfolios. The 8 October action gives them a clearer investment-grade signal from one agency; its effect on funding terms will depend on subsequent market decisions.

**Source:** [Viet Nam Government News’ 9 October 2026 report of R&I’s rating action](https://en.baochinhphu.vn/ri-upgrades-viet-nams-foreign-currency-issuer-rating-to-bbb-111261009104728444.htm?ref=southeastasiaconnect.com).